China’s factory activity expands faster on strong overseas demands
China’s manufacturing activity was seen expanding in September, twin surveys showed. The solid expansion followed after the nation’s exports advanced on strong overseas demand, indicating a steady economic rebound from the pandemic drag.
The official manufacturing Purchasing Managers’ Index (PMI) was read at 51.5 in September. The figure came higher than the 51.0 reading seen in August, beating analysts’ forecast for a 51.2 growth, data from the National Bureau of Statistics showed on Wednesday.
Moreover, the index had recorded its seventh month above the 50 threshold that separates growth from decline. A separate survey also showed that the country’s manufacturing sector was supported by stronger overseas demand.
China’s industrial sector had sustained its recovery, heading toward its pre-pandemic levels as upbeat demand, stimulus-driven infrastructure expansion, and strong exports fuel its rebound.